Available for residents nationwide, First Foundation Bank is offering an Online Money Market 4.50% APY account.
Update 12/24/24: The Online Savings account has decreased to 4.50% APY from 4.75% APY. You can only see the new rate after clicking on “Open Account”.
First Foundation Bank Online Money Market Review
First Foundation Bank is headquartered in Irvine, California and was established in 2007. Since then they have grown to 21 locations and offer savings rates that are 5X the national average. The path that First Foundation has taken to provide banking, trust services, financial planning, investment management, estate and legacy planning, foundation support, and insurance services to our clients, all under one roof and all under the fiduciary standard of care.
I’ll review First Foundation Bank Online Money Market below.
First Foundation Bank Online Money Market Rate
To earn First Foundation Bank competitive rate, simply have an opening deposit of $1,000. That’s all it takes and you’ll get to enjoy earning the rate.
- What you’ll get: 4.50% APY
- Eligible account: Online Money Market
- Credit inquiry: Soft Pull
- Where it’s available: Nationwide
- Opening Deposit: $1,000 minimum
- Monthly fee: None
- Early Termination Fee: $20 fee if closed within 90 days of opening
(FDIC Insured)
How to Earn First Foundation Bank Rate
- Open an Online Money Market account from First Foundation Bank
- Choose from the options available to fund your new account
- Maintain $1,000 minimum balance and earn the 4.50% APY rate
| Balance Requirement | APY Rate |
| $0.01 – $5,000,000.00 | 4.50% APY |
First Foundation Bank Account Features
- Transfer funds to other First Foundation Bank or external accounts
- View your account information, transactions, balances, check images, deposit tickets, and statements
- Deposit checks, view your account history and balances, transfer funds, send person-to-person payments, pay bills, and more
- Bank with the highest level of security thanks to multiple layers of authentication
Notes:
- Online transfer limits: Our external transfer limits are $20,000 per day up to $100,000 per rolling 30-day period. The transfer settlement period is 3 full business days, over which time any additional transfers will be considered a part of the same $100,000 daily limit. Each time external transfers fully settle, the portion of the daily limit that was being utilized will be reset for use again.
- If you have multiple accounts at First Foundation Bank, there is no limit to the amount of internal transfers you can process between your accounts.
- You can use their ACH funding option to fund your account up to $150,000 for initial funding.
- You can make deposits by using the First Foundation Mobile app check deposit feature, transferring funds from an external account using online banking or mobile app, and in-branch at any of 30 branch locations.
- Beneficiaries can be added after an Online Savings/Online MMA by calling 888.405.4332 or at [email protected]. They will send you a short form via DocuSign to collect the information they need to add your beneficiaries to your account.
- First Foundation continues to honor the Fed’s Regulation D pause, so you can make more than 6 withdrawals per month without incurring a fee.
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Conclusion
Check out First Foundation and open a Online Money Market Account with a competitive rate! The fact that you can earn a high rate on any balance makes this account all worthwhile.
There are many benefits to opening this account such as a high rate, FDIC insured, and pretty much no fees.
In addition to the rate from First Foundation Bank, check out our list of best rates Savings, Money Market, and CD accounts.
Use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.
